Synthetic and Bio-based PMMA Market Trends, Growth, Demand, Revenue, Size, Forecast and COVID-19 Impacts By 2022

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Synthetic and Bio-based PMMA Market Size, Growth
Drivers, Regional Outlook And Forecast by 2022
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Global Market Scenario of Synthetic and Bio-based
PMMA Industry
The global synthetic bio PMMA market is slated
to record a substantial upsurge in the product
demand in light of the increasing requirement for
PMMA transparent sheets owing to the COVID-19
health crisis. Driven by these factors,
synthetic bio PMMA market size is set to
surpass USD 11 billion through 2022, cites the
latest research conducted by Global Market
Insights Inc. These sheets are utilized as
protective barriers for preventing the spread of
coronavirus. This has led to an increase in
investments in extrusion machinery for enhancing
output, favoring the industry landscape. The
demand for extruded PMMA sheets is further being
driven by the increasing scope of application in
signs displays and in doors windows across
the construction industry.
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How are market players contributing to industry
expansion? Leading companies operating in the
global synthetic and bio PMMA market include Dow
Chemical, Makevale Group, Kuraray Group, Sumitomo
Chemicals, Chi Mei Corp, Mitsubishi Rayon,
Evonik, Arkema, LG MMA, SABIC, and others. These
market vendors are focusing on acquisitions,
mergers, product launches, and collaborations for
maintaining their position in the
market. Considering an instance, in December
2020, Trinseo inked a binding agreement for the
purchase of Arkemas activated methyl
methacrylate (MMA) and polymethyl methacrylate
(PMMA) business. The transaction involved a value
of 1.36 billion. Rising product usage across
automobile and healthcare sectors The market
growth across the automobile and transportation
applications is mainly on account of strict
regulations for controlling pollution levels and
rising consumer awareness regarding lightweight
commercial vehicles. This is further supplemented
by a range of benefits comprising easy processing
and handling and low cost. Furthermore, the
market is expected to record over a growth of
5.5 from healthcare applications through 2022.
This rise is attributed to the increasing product
deployment in manufacturing bone cements,
cuvettes, dentures, syringes, and others.
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Prospects of regional expansion Europe, North
America, and the Asia Pacific In Europe, the
synthetic bio PMMA market is estimated to
register around 4 gains from electronics
applications. This growth is on account of
multiple properties comprising surface hardness,
light transmission, and scratch resistance. In
North America, the market share is majorly driven
by construction applications in the U.S. The
product is deployed in making door panels and
windows which provides corrosion resistance, and
protection against UV and climatic conditions.
Owing to these aspects, U.S. polymethyl
methacrylate market value from construction
application is expected to surpass USD 200
million through 2022. Considering the Asia
Pacific region, the China synthetic bio
polymethyl methacrylate (PMMA) market is
anticipated to record over a CAGR of 7.5 over
the projected period. This rise is driven by the
surging demand for LED panels in manufacturing
flat screens and TVs. The regional product demand
is impelled by the rapid industrialization and
the mounting levels of disposable income.
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Competitive Analysis
What challenges are likely to affect PMMA
business landscape? Prominent raw materials used
in the manufacturing of PMMA include ammonia,
acetone, and methanol. These materials lead to
the generation of toxic waste and pose
environmental threat, in turn affecting industry
profitability. However, stringent regulatory
guidelines for controlling GHG emissions would
potentially impel the business expansion in the
near future. In a nutshell, rising polymethyl
methacrylate uses in adhesive, industrial
architectural coatings, and ceramic applications
expected to propel synthetic and bio PMMA market
growth through the forthcoming years.
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